Project Cost Management in Construction: A Practical Guide

This video shows a practical project cost management workflow for construction projects, covering budgets, commitments, actual costs, forecasts, cash flow, ERP data, and live cost reporting. FREE Project Cost Management Template: https://www.mastt.com/resources/proje... Doug Vincent explains project accounting, ERP reconciliation, progress payments, variations/change orders, and construction cost tracking. You’ll see how to bring project cost data into clearer reports and dashboards so you can understand financial position faster, improve cost visibility, and make better project decisions. 🚀 Get Started with Mastt Start for FREE: https://www.mastt.com Construction Project Cost Management Software: https://www.mastt.com/product/cost-ma... Product Tour: https://www.mastt.com/product-tour Dashboards & Templates: https://www.mastt.com/template-library Chapters: 00:00 Project cost management with AI, live dashboards and ERP data 03:43 Why spreadsheets fail construction cost management 06:19 What is the cost of cost management? 07:53 Key project cost management data owners must track 10:27 Construction cost report: budget, commitments, FFC and EAC 12:35 Cash flow forecasting: monthly, cumulative and baseline 14:04 Project accounting vs business accounting 16:00 Why "paid" differs: purchase orders, accruals, Security of Payment Act 19:53 How do progress payments, certificates and ERP payments connect? 22:25 Mastt live demo: AI uploads of contracts, invoices, variations/change orders 28:56 AI checks payments and generates payment certificates 31:52 ERP reconciliation: match SAP payments by purchase order 35:52 Shareable live cost reports, as EVT and Colliers use 39:01 Stop documenting, start decision-making in monthly reports 40:17 How long should monthly, finance and board reports be? 40:52 Project cost management lessons from 10 countries 43:09 What does "paid" mean for finance and project teams? 43:37 Cash vs accrual reporting and cash flow baselines 🔔 Stay Connected YouTube:    / @masttglobal   LinkedIn:   / mastt   Facebook:   / masttglobal   Instagram:   / masttglobal   X: https://x.com/MasttGlobal Pinterest:   / masttglobal   TikTok:   / masttglobal   #ProjectCostManagement #ConstructionCostManagement #ProjectControls #CostReporting #ProjectCostTracking #CostControl